- The U.S. registered 61,700 new cases yesterday, a daily rise of 10%. The total count now stands at 4.35m, a rise of 1.4% since yesterday (see Table). The news comes as six states see record COVID-19 deaths and child hospitalisations rise in Florida.
- The largest daily increase in the total case count across developed countries came in Japan. The figure now stands at 32,100 cases and just under 20% of these cases have been registered over the last seven days. The country continues, however, to register almost no deaths.
- Hong Kong and India experienced the largest daily rises in total COVID-19 cases in Asia. Hong Kong has featured heavily this week in our work, as the number of recorded flights fell and mobility dropped 15% in response to the crisis. Today, Carrie Lam warned that the hospital system could collapse.
- After the weekend drop, midweek weekly changes in 3d moving averages indicate a clearer directional movement. China is the largest mover on the list. The country has registered 350 new cases over the last 7 days. Yesterday, 93 new cases were recorded, ranking the daily rise in the top 25th percentile increases since their pandemic began in January.
- In terms of new daily population-adjusted cases, Israel is experiencing the largest rise. At 26 new cases per 100,000 population, this is higher than the US (19), Brazil (19) and Colombia (16). The country has also experienced one of the largest falls in mobility this week.
- Finally, despite starting from a low base, Taiwan and Malaysia have seen the largest daily rises in their 3d moving averages. Yesterday, Taiwan announced that it was investigating its first possible local coronavirus infection in more than a month.
Bilal Hafeez is the CEO and Editor of Macro Hive. He spent over twenty years doing research at big banks – JPMorgan, Deutsche Bank, and Nomura, where he had various “Global Head” roles and did FX, rates and cross-markets research.
Sam van de Schootbrugge is a macro research economist taking a one year industrial break from his Ph.D. in Economics. He has 2 years of experience working in government and has an MPhil degree in Economic Research from the University of Cambridge. His research expertise are in international finance, macroeconomics and fiscal policy.
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